charlesbazlinton
Richard Werner reveals what most of the
general public are wholly ignorant of : that about 97% of the money
supply is created and allocated by bank loan officers for the benefit of
their bank. The banks do not consider the needs of the whole economy
and are not instructed to do so by the government. This has led to the
excesses of the last few years at a huge cost to the whole economy. He
demonstrates that certain successful national economies in the recent
past have sprung from their govenments' incentivisation of banks to
produce the type and amount of credit that is needed. Banks have been
given a monopoly privilege to create the money supply and should be
given guidelines to allocate credit and bring good outcomes for all. He
says the successful East Asian examples of this, show that it does not
involve soviet-style micromanagement.
